Monday, October 31, 2022 9:03:37 PM
The 8K dated 10-12 disclosed a lease obligation, a change in their accountant and also a stock sale in a private placement for $66,793
Neither of the 8Ks are good news because BWMG is selling stock to raise money for working capital. Or to say it a different way... They still are not cash flow positive enough to be able to cover operating expenses.
Look at any 10K and you will see that BWMG has been selling stock to raise money to operate the business since the beginning of time. Thats why there are over 410 million shares outstanding.
The next 10Q might have some clues about the current sales rate and perhaps something about new products. I don't feel very optimistic regarding new products because that would likely have already been disclosed. The gross sales level, gross margin and operating expenses should give us an idea of the current direction of the business.
BWMG will need to sell more stuff with a gross margin so that there is enough to cover "working capital" requirements. This higher sales level can only come from selling more of the current product lines or adding new offerings. They have been doing a good job re new products so I'm hopeful that the trend continues.
The only place where success comes before work is in the dictionary
Recent BWMG News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/13/2024 08:27:11 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 07:07:39 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/14/2023 04:55:11 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 08:01:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/29/2023 04:34:38 PM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM
Avant Technologies to Implement AI-Empowered, Zero Trust Architecture in Its Data Centers • AVAI • Apr 29, 2024 8:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM